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Is there any difference in the bank loan interest rate for private vehicle versus private hire (Z10) vehicle? I am trying to source information through websites but I can't find anything. Only OCBC bank states that they do not finance PHV vehicles. Anyone can advise please? Thanks in advance.
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Hi Madeleine,
For passenger (private used car), the interest rate starts from 1.88% for parf car.
For Z10 (commercial used purpose, private hire), the interest rate starts from 3.28% with a loan processing fee.
Dbs, Maybank and several private financial institutions do provide loans for Z10